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NEAR Protocol
- Traders hoping for the TON to reclaim higher levels!
- TONCOIN broke out above its consolidation, trading in bullish momentum.
Toncoin has a market cap of 6.068 Billion, which has declined by 6.04% in the last 24 hours. The volume of the crypto is also showing a decline of 7.88%. The total supply of crypto is 5.048 Billion TON tokens, out of which the circulating supply is 3.432 Billion TON coins. It is the amount of crypto being traded in the market at current times.
The volume/market cap ratio of the coin is 0.00420458 as per Tradingview.com and TON belongs to smart contract platforms. The all-time high price of the crypto was recorded on 12 November 2021, at a level of $5.84. The crypto declined to the lowest price of $0.3906 from its all-time high level. It is currently trading at +355.26% above its lowest price.
The current market cap rank of crypto is #33 and the market cap dominance is 0.133%. TON was founded by Protocol Labs, which was founded by Juan Benet. The traders are bullish on the coin as more than 81% of traders have voted for bullish momentum on Coingecko!
Toncoin Price Technical Analysis in Daily Time Frame
Toncoin price was consistently consolidating inside a range-bound zone. It recently broke out above the zone and is currently in the retracement phase after the breakout. If the market sustains the breakout, we might get to see good momentum in the crypto.
TON price is trading above the 50-day and the 200-day Exponential Moving Average. However, due to a historical decline in price, the EMAs are still in a death cross. That movement of price above the EMAs can lead to a golden cross in the future.
The RSI for the crypto is trading above the overbought zone. That indicates the presence of buyers in the market. Therefore, it can lead the prices to a higher level.
Toncoin Volume Analysis
There is no significant change in the volume of the TON cryptocurrency. It indicates that the price may move slowly or does not react much in the current scenario.
Conclusion
Ton cryptocurrency’s price is trading in an uptrend. It has also broken out above the consolidation zone. The EMA is also on the verge of changing its trend and the RSI is extremely bullish on the chart.
Therefore, if the market sustains the retracement, we may get to see higher prices in the crypto in the upcoming days.
Technical Levels:
- The support levels for Toncoin Crypto are $0.9930 and $1.2600
- The resistance levels for the Toncoin Crypto are $2.0610 and $2.500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
